There is a lot of hype around cryptocurrency and bitcoin. I definitely think it is the future of our social economic state. Everyone wants to be their own person, even in our irresponsible world. Still I believe this is the first wave of new currency that will change how we interact with ‘money’.
Today, I do not want to go into the why and what Bitcoin is, or why I am getting involved in crypto currency, or if it is worth it. I am just going to show you how to get started. Because information isn’t anything unless you do something.
You already know why it is solid, news anchors are talking about it and giving information about it, so I do not think I have to dive into what it is . I myself have already started in the game and it has been a fun learning experience.
IF you do not know what BTC is then watch this video:
First, you need to join an exchange. I currently use Coinbase and Bittrex. You will need to start with CoinBase because it allows you to turn USD into crypto which then allows you to transfer to other exchanges.
This is really the first step, it is really secure and has the 3 major coins.
Once you verify your account, you will need to allow Coinbase to take a snapshot of your id. I used my license and it worked. Once your account has been verified, you just need to enter your banking information or credit card to import cash into Coinbase.
When you import cash in Coinbase, it isn’t anything it is still USD. You will see that you have X amount USD. You will want to buy crypto coins at the value you have deposited.
Now, even though Bitcoin currently is at $4000 doesn’t mean you have to buy 1 bitcoin at 4000. NO. You can buy $100 worth of Bitcoin and watch your earnings grow. Buying lets say $100 worth means your just buying part of a bitcoin or bitcoin that is worth $100 at that time.
That is really it and NOW you have Bitcoin. The interface of Coinbase is really easy to use and very simple, that I do not need to go into the navigation part of things.
Once you have your first coin, you can see the growth of it daily, but your goal is to sit on these coins and watch it grow. Read Coinbase Support here for more in-depth how to.
If you are still curious as to what BitCoin is, then I suggest you watch this awesome Netflix Documentary called Banking On BitCoin. It is a really good documentary on the evolution of the crypto currency game. Who the first person to start this new currency and the ups and downs.
It is worth a watch. Though this was a short guide, it is because there is a lot of hype around Bitcoin and Cryptocurrency. I believe this is the new world we will be entering. There a lot of courses out there for learning crypto trading, but the game is to hold.
Imagine if you invested $100 and the growth of Bitcoin growing at a steady 1.11% then you are going to win.Ofcourse if it grows 25% in one day you definitely win. So there are a lot of strategies to win with Bitcoin and cryptocurrency, it is about how you want to tackle it. It all ranges from day trading to ICO (Initial Coin Offering).
When the hype is real take advantage of it. Do not go hard into it, as it seems to be the beginnings as I believe there will be some sort of regulations even though cryptocurrency is trying to do away with the means of a middle man.
We are still in the early stages, it is best to get involve some how even if its just owning .000015 Bitcoin. You never know it may be worth more in the coming years!